In the past few days there have been rumours and unconfirmed and unsubstantiated reports published by some media alleging that Tata Motors may sell stake in Jaguar Land Rover (JLR). Tata Motors has categorically denied and dismissed any such intent. Jaguar Land Rover is and remains a key pillar of Tata Motors and the wider Tata Group.
“We recently announced our results for Q1 and have indicated that we are maintaining solid liquidity despite the Covid-19 pandemic and expect to be cash positive from Q2 onwards. Jaguar Land Rover business remains strong as it transitions to new electrified, autonomous and connected technologies to support its Destination Zero ambition.” , the statement said .
This is the second such rumour around sale of stake in a TATA SONS group.